PHYDX — PIMCO High Yield Fund
Data updated: 2026-08-31
PHYDX — PIMCO High Yield Fund. Short Corporate Bond · $7.27B AUM · 0.91% expense ratio. Holdings, fees, performance and SEC filings.
PHYDX Fund Overview
PHYDX — PIMCO High Yield Fund is a US mutual fund managed by PIMCO Funds, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: PIMCO Funds
- Category: Short Corporate Bond
- Assets under management: $7.27B
- Ticker: PHYDX
- SEC CIK: 0000810893
- SEC series ID: S000009685
- Share class ID: C000026551
PHYDX Investment Objective and Strategy
PIMCO High Yield Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by PIMCO Funds.
Investment objective
The Fund seeks maximum total return, consistent with preservation of capital and prudent investment management.
Principal investment strategy
"The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of high yield securities (""junk bonds""), which may be represented by forwards or derivatives such as options, futures contracts or swap agreements, rated below investment grade by Moody's Investors Services, Inc. (""Moody's""), or equivalently rated by Standard & Poor's Ratings Services (""S&P"") or Fitch, Inc. (""Fitch"") or, if unrated, determined by PIMCO to be of comparable quality. The Fund may invest up to 20% of its total assets in securities rated Caa or below by Moody's, or equivalently rated by S&P or Fitch, or, if unrated, determined by PIMCO to be of comparable quality. The remainder of the Fund's assets may be invested in investment grade Fixed Income Instruments.
""Fixed Income Instruments"" include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The average portfolio duration of this Fund normally varies within one year (plus or minus) of the portfolio duration of the securities comprising the ICE BofAML U.S. High Yield, BB-B Rated, Constrained Index, as calculated by PIMCO, which as of May 31, 2018 was 3.85 years. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.
The Fund will normally limit its foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) to 20% of its total assets. The Fund may invest up to 15% of its total assets in securities and instruments that are economically tied to emerging market countries (this limitation does not apply to investment grade sovereign debt denominated in the local currency with less than 1 year remaining to maturity, which means the Fund may invest, together with any other investments denominated in foreign currencies, up to 20% of its total assets in such instruments). The Fund may invest, without limitation, in derivative instruments, such as options, futures contracts or swap agreements, or in mortgage- or asset-backed securities, subject to applicable law and any other restrictions described in the Fund's prospectus or Statement of Additional Information.
The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis and may engage in short sales. The Fund may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as buy backs or dollar rolls). The ""total return"" sought by the Fund consists of income earned on the Fund's investments, plus capital appreciation, if any, which generally arises from decreases in interest rates, foreign currency appreciation, or improving credit fundamentals for a particular sector or security. The Fund may also invest up to 10% of its total assets in preferred securities."
PHYDX Holdings
Top 10 holdings of PIMCO High Yield Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Pimco Short Asset Portfolio | 4.41% |
| United States Treasury | 1.99% |
| BofA Securities, Inc. | 1.95% |
| Pimco Senior Loan Active Exchange-Traded Fund | 1.53% |
| United States Treasury | 1.30% |
| Ingevity Corp. | 0.61% |
| Pimco Preferred And Capital Securities Active ETF | 0.61% |
| Jane Street Grp/jsg Fin | 0.58% |
| Intercontinental Exchange, Inc. | 0.57% |
| 1261229 Bc Ltd. | 0.55% |
PHYDX Portfolio Allocation
Asset-class allocation of PIMCO High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 88.2% |
| Cash & Equivalents | 8.5% |
| Equity | 2.1% |
| Loans | 1.7% |
| Derivatives | 0.6% |
| Real Estate | 0.2% |
PHYDX Performance
Total returns for PHYDX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.2% |
| 1 year | 5.4% |
| 3 years (annualised) | 8.0% |
| 5 years (annualised) | 3.7% |
PHYDX Risk Information
Risk metrics for PHYDX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.3%
PHYDX Costs and Fees
PHYDX costs about $91 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.91%
- Gross expense ratio: 0.91%
- Portfolio turnover: 43%
- Brokerage commissions: 0.22 bps of average net assets (SEC N-CEN)
PHYDX Cashflows
Over the 12 months to 2026-06, PIMCO High Yield Fund had net outflows of $607.85M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$61.92M |
| 2026-05 | −$36.66M |
| 2026-04 | $200.65M |
| 2026-03 | −$62.85M |
| 2026-02 | −$14.87M |
| 2026-01 | −$434.17M |
PHYDX Debt Constituents
Largest debt holdings of PIMCO High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Treasury | 1.99% |
| United States Treasury | 1.30% |
| Ingevity Corp. | 0.61% |
| Jane Street Grp/jsg Fin | 0.58% |
| 1261229 Bc Ltd. | 0.55% |
| Carnival Corp. Ltd. | 0.50% |
| Cloud Software Grp, Inc. | 0.49% |
| Echostar Corp. | 0.47% |
| Viking Cruises Ltd. | 0.46% |
| Venture Global Lng, Inc. | 0.45% |
PHYDX Prospectus and SEC Filings
Official PIMCO High Yield Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-07-25
- Prospectus supplement (497) — filed 2024-01-08
- Prospectus supplement (497) — filed 2023-10-02
- Portfolio holdings (N-PORT) — filed 2026-08-31
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-03-02
- Annual census (N-CEN) — filed 2026-06-11
- Annual census (N-CEN) — filed 2025-06-13
Related Funds
Other Short Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.